March 21 at 1:21 p.m.
Filed under:
Litigation,
Pharmaceuticals
By Reuters
Mylan Inc. has sued the Food and Drug Administration to get generic versions of Pfizer Inc.’s Lipitor on the market in late June and block India’s Ranbaxy from receiving 180 days of marketing exclusivity for its version of the medicine.
Ranbaxy is expected to launch its generic Lipitor Nov. 30 under a settlement with Pfizer and remain free of multiple competitors for 180 days, as the first company to apply to sell a cheaper version of the world’s best selling prescription medicine. Get the full story »
Oct. 29, 2010 at 7:25 a.m.
Filed under:
Pharmaceuticals
By Mary Ellen Podmolik
Baxter International Inc. announced the sale of its U.S. generic injectables business to Hikma Pharmaceuticals PLC for approximately $112 million, a move that will require Baxter to take an after-tax third-quarter special charge of $70 million, or 12 cents a share, to write down the assets of the business.
The sale involves Baxter’s high-volume, generic injectable products in vials and ampoules, which are sold primarily in the United States including chronic pain, anti-infective and anti-emetic products, along with the Cherry Hill, N.J., manufacturing facility, and a Memphis-area warehouse and distribution center. Approximately 750 employees who support the business will also transfer as part of the arrangement. Get the full story »
Oct. 8, 2010 at 2:44 p.m.
Filed under:
Earnings,
Insurance,
Pharmaceuticals,
Retail
By Reuters
CVS Caremark Corp. warned that 2011 earnings growth could fall below its long-term goals as it spends money to streamline its pharmacy benefits management business and as fewer generic drugs hit the market.
Shares in the company, which operates drugstores and manages prescription drug plans, fell 3 percent Friday. Get the full story »
March 31, 2010 at 10:29 a.m.
Filed under:
Litigation,
Pharmaceuticals
From the Chicago Daily Herald | North Chicago-based Abbott Laboratories is suing the Indian company Lupin Ltd. to prevent it from selling a copy of the cholesterol medicine Niaspan in the U.S.
Get the full story: dailyherald.com.
